Yesterday's candlestick formation proves how the trading range was very tight. Thus; we still see that the metal is preparing to achieve potential upside movements in order to resume the CD leg of the suggested harmonic AB=CD pattern. A stable move above 18.35 is needed to confirm the scenario.
The trading range for today is among the key support at 17.80 and key resistance now at 18.90.
The general trend over the short term basis is to the downside, targeting $ 13.60 per ounce as far as areas of 19.40 remain intact.
Weekly Report Previous ReportSupport18.2518.1518.0518.0017.90Resistance18.3518.4018.4618.5518.63RecommendationBased on the charts and explanations above our opinion is, buying silver from 18.25 targeting 18.90 and stop loss below 17.70 might be appropriate